Corient Private Wealth LP Makes New Investment in Edison International $EIX

Key Points

• Corient Private Wealth purchased 83,948 Edison International shares worth approximately $6.25 million in the second quarter. Institutional investors collectively own 88.95% of the utility company, with BlackRock and other major funds also increasing or initiating positions.
• Analyst sentiment remains mixed: four analysts rate EIX a Buy, seven a Hold, and three a Sell. The stock has a consensus rating of Hold and an average price target of $72.45, compared with its recent price of $70.09.
• Edison International exceeded quarterly earnings expectations, reporting $1.54 EPS versus the $1.18 consensus, although revenue declined 4.1% year over year. The company pays an annualized $3.51 dividend, yielding approximately 5.0%.

Corient Private Wealth LP bought a new stake in shares of Edison International (NYSE:EIX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 83,948 shares of the utilities provider's stock, valued at approximately $6,250,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Edison International in the second quarter worth $3,340,412,000. AQR Capital Management LLC lifted its holdings in Edison International by 69.9% in the fourth quarter. AQR Capital Management LLC now owns 18,285,152 shares of the utilities provider's stock valued at $1,097,475,000 after acquiring an additional 7,521,168 shares during the period. Norges Bank bought a new position in Edison International in the fourth quarter valued at about $339,311,000. Legal & General Group Plc purchased a new position in Edison International in the second quarter worth about $329,766,000. Finally, Bank of New York Mellon Corp purchased a new position in Edison International in the second quarter worth about $309,361,000. 88.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on EIX. Mizuho upped their price target on shares of Edison International from $79.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, July 31st. Morgan Stanley dropped their price objective on shares of Edison International from $69.00 to $65.00 and set an "underweight" rating on the stock in a report on Friday, August 21st. JPMorgan Chase & Co. boosted their target price on shares of Edison International from $75.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, May 15th. Barclays reaffirmed an "equal weight" rating and set a $75.00 target price (down from $78.00) on shares of Edison International in a report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Edison International from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $72.45.

Edison International Stock Down 0.1%

NYSE EIX opened at $70.09 on Monday. The stock's 50-day moving average price is $74.30 and its 200-day moving average price is $72.41. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.95. Edison International has a 52 week low of $52.00 and a 52 week high of $81.62. The company has a market capitalization of $26.97 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 5.45 and a beta of 0.66.

Edison International (NYSE:EIX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.36. The company had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.82 billion. Edison International had a return on equity of 15.53% and a net margin of 20.30%.The firm's revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Edison International has set its FY 2026 guidance at 5.900-6.200 EPS. On average, equities research analysts predict that Edison International will post 6.13 earnings per share for the current year.

Edison International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Tuesday, July 7th were given a $0.8775 dividend. This represents a $3.51 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Tuesday, July 7th. Edison International's dividend payout ratio is presently 36.19%.

Edison International Profile

Edison International is a publicly traded utility holding company based in Rosemead, California, whose principal subsidiary is Southern California Edison (SCE). As an electric utility holding company, Edison International oversees the delivery of electricity through SCE's integrated network of generation procurement, transmission and distribution infrastructure, serving millions of customers across central, coastal and southern California. The company's operations focus on reliable energy delivery, customer service, regulatory compliance and long-term infrastructure planning for a complex and high-demand service territory.

The company's activities include procuring and managing a diverse resource mix, maintaining and upgrading transmission and distribution systems, and implementing grid modernization projects.

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